France June preliminary CPI +0.1% vs +0.4% y/y expected

Latest data released by INSEE - 30 June 2020

• Prior +0.4%
• CPI -0.1% vs +0.3% m/m expected
• Prior +0.1%

• HICP +0.1% vs +0.5% y/y expected
• Prior +0.4%
• HICP -0.1% vs +0.3% m/m expected
• Prior +0.2%

That is a bit of a surprise miss after the inflation reports we saw from Spain and Germany yesterday, but I guess all of this is still largely muddied by the impact of the coronavirus outbreak in general.

The fall here sees annual inflation in France fall to its weakest level since May 2016 and that isn't too encouraging in terms of looking at the trend for price pressures.